Korean government suspends Woori sale process
The Korean government has suspended the auction of its 57% stake in Woori Finance Holdings after MBK Partners materialized as the sole bidder for the asset. This is the second time the government has tried and failed to exit its holding in Woori, which is Korea’s third-largest financial services institution.
Korea's Financial Services Commission (FSC) said that it halted the auction process due to a dearth of competitive bids. The announcement came after TStone Corp. and Vogo Fund - the only other two other...
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